BlockBeats 消息，10 月 18 日，美联储内部分歧加剧，美联储主席鲍威尔在近期演讲中重申“就业市场脆弱、降息势在必行”的立场，市场普遍预期 10 月 29 日将再降息 25 个基点。然而，部分官员对持续降息表态保留，通胀与增长韧性成为政策辩论核心。期货市场已提前消化 12 月再度降息的可能，显示投资人押注宽松周期延续。
从市场反应来看，加密资产短线波动加剧。根据 Coinglass 数据，ETH 清算热力图显示，价格在 3709 美元与 3926 美元形成高密度清算带，显示多空双方在此区域展开激烈博弈。下方主要支撑位落在 3589 美元一带，若跌破将触发新一轮杠杆去化；上方压力集中于 4085 与 4180 美元区间，反映市场对宏观不确定性的对冲情绪升温。
Bitunix 分析师观点：美联储内部“降息共识”与“通胀疑虑”并存，意味金融环境松紧交替的节奏将主导年底前市场走势。ETH 的杠杆分布显示资金正转向防御布局，短期波动可能仍高，但若降息节奏稳定落地，流动性修复将为主流资产带来第二波上行契机。
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